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Carlton Markets NYC, CA Non-Performing Loans

NEW YORK CITY-The three loans total $96 million, the latest in hundreds of millions of dollars in loans the company is currently marketing.

By Paul Bubny | Updated on December 07, 2009

NEW YORK CITY-Continuing with what has been a very busy month for the Carlton Group, chairman Howard L. Michaels said Monday that the company has been retained by a major financial institution to market a portfolio of three non-performing loans totaling $96 million. These join hundreds of millions of dollars in loans that Carlton has brought to market since early November.

“We represent a motivated seller that intends to sell these prime assets by Jan. 20, 2010,” says Shlomi Ronen, Los Angeles-based managing director of Carlton Advisory Services, in a release. He says the three loans represent “some of the best assets in terms of location, asset type and investment size” that his company has marketed to date. The seller was not disclosed.

One of the loans is secured by a 145,000-square-foot Manhattan office building with ground-floor retail. The other two derive from substantially complete condominium projects: a 105-unit, mixed-use project in Northern California; and 32 luxury condos and eight apartments at a Southern California location.

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